MannKind (NASDAQ:MNKD) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded MannKind from sell to hold, adding to a generally positive analyst backdrop for the stock.
• Analyst sentiment remains moderately bullish overall: seven Buy ratings, two Hold ratings, and one Sell rating, with a consensus price target of $8.97.
• MannKind’s latest earnings missed expectations, posting EPS of -$0.05 versus a -$0.02 estimate and revenue of $90.17 million versus $105.38 million expected, even though revenue rose 15.1% year over year.

MannKind (NASDAQ:MNKD - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

Several other research analysts have also recently weighed in on the stock. Mizuho lowered their price target on shares of MannKind from $8.00 to $7.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada boosted their target price on MannKind from $3.50 to $4.75 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. Wells Fargo & Company set a $11.00 price objective on MannKind and gave the company an "overweight" rating in a research note on Monday, June 1st. HC Wainwright lifted their target price on MannKind from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Zacks Research upgraded MannKind from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 15th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $8.97.

MannKind Price Performance

Shares of MNKD opened at $4.52 on Friday. The company has a 50 day simple moving average of $3.52 and a two-hundred day simple moving average of $4.08. MannKind has a 1 year low of $2.23 and a 1 year high of $6.51. The firm has a market cap of $1.40 billion, a P/E ratio of -64.56 and a beta of 1.09.

MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The firm had revenue of $90.17 million for the quarter, compared to analysts' expectations of $105.38 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, sell-side analysts anticipate that MannKind will post -0.06 earnings per share for the current year.

Insider Activity at MannKind

In related news, Director Steven B. Binder sold 16,940 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total transaction of $55,732.60. Following the completion of the sale, the director directly owned 808,008 shares of the company's stock, valued at $2,658,346.32. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.60% of the stock is owned by company insiders.

Institutional Trading of MannKind

A number of institutional investors have recently modified their holdings of MNKD. Level Four Advisory Services LLC increased its stake in shares of MannKind by 12.5% during the 3rd quarter. Level Four Advisory Services LLC now owns 17,333 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 1,925 shares during the last quarter. Franklin Resources Inc. raised its position in shares of MannKind by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 162,217 shares of the biopharmaceutical company's stock worth $871,000 after buying an additional 2,201 shares during the period. Aaron Wealth Advisors LLC lifted its stake in shares of MannKind by 1.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 200,763 shares of the biopharmaceutical company's stock valued at $1,138,000 after purchasing an additional 2,355 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in MannKind by 7.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 33,405 shares of the biopharmaceutical company's stock valued at $189,000 after buying an additional 2,404 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of MannKind by 6.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the biopharmaceutical company's stock worth $220,000 after acquiring an additional 2,443 shares in the last quarter. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

MannKind Company Profile

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).

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